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Wipro Limited has entered into a definitive agreement to acquire select customer contracts of Alpha Net Consulting LLC and its subsidiaries for a total consideration of up to USD 70.8 million. The transaction, expected to close by the end of June 2026, includes an earnout component linked to performance conditions. The acquisition will provide Wipro access to key client relationships, associated workforce, and ongoing contracts, strengthening its AI-powered and consulting-led application services capabilities. The acquired portfolio reported revenues rising from USD 27.9 million in 2023 to USD 37.3 million in 2025, reflecting steady growth across global markets.
Wipro Limited has signed a definitive agreement to acquire select customer contracts of Alpha Net Consulting LLC and its subsidiaries for a consideration of up to USD 70.8 million, as part of its strategy to strengthen its artificial intelligence-led and consulting-driven services portfolio. The agreement was executed through Wipro's subsidiaries in the past week, with the transaction expected to be completed by the end of June 2026, subject to customary closing conditions. Advertisement
The acquisition involves a cash consideration structure, including a deferred earnout component linked to the achievement of specified performance metrics and conditions. Through this transaction, Wipro will gain access to a defined set of customer contracts, associated client relationships, and a relevant workforce supporting these engagements.
The company stated that the acquisition is intended to enhance its capabilities in enterprise application services, particularly in areas aligned with artificial intelligence and data-driven solutions. By integrating Alpha Net's select customer engagements, Wipro aims to expand its service offerings and strengthen its positioning in global markets where demand for AI-enabled enterprise solutions continues to grow.
Alpha Net Group, founded in 2001 and headquartered in Santa Clara, California, operates across multiple geographies, including Singapore, India, the United Kingdom, and the Netherlands. The company provides enterprise software development, data engineering, and managed services to a global client base, with a focus on technology solutions aligned to evolving digital and AI requirements.
Financial data disclosed as part of the transaction indicates that the customer contracts being acquired generated revenues of USD 27.9 million in 2023, USD 34.4 million in 2024, and USD 37.3 million in 2025, demonstrating consistent year-on-year growth. These figures reflect the performance of the specific customer portfolio included in the transaction rather than the entire Alpha Net business.
The acquisition is expected to support Wipro's broader growth strategy by enabling deeper engagement with key clients and expanding its delivery capabilities across high-demand service areas. The inclusion of an earnout component suggests a structured approach to aligning future performance with the final transaction value.
The transaction forms part of ongoing consolidation and capability-building within the global IT services sector, where companies are focusing on targeted acquisitions to strengthen specialised service lines and access established client relationships.
Source - PTI
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